( dpa ) - Most US stocks fell Monday after Bank of America reported a sharp drop in earnings, sparking fears that the country's credit crisis may not be over just yet.
The second-largest US bank said profits declined 77 per cent to 1.21 billion dollars in the first quarter. Chief executive Kenneth Lewis said the results were "much worse" than the company had predicted only three months earlier.
The price of oil meanwhile reached yet another record, climbing to 117 dollars per barrel in New York trading and boosting energy shares.
The blue-chip Dow Jones Industrial Average fell 24.34 points, or 0.19 per cent, to 12,825.02. The broader Standard & Poor 500 Index was down 2.16 points, or 0.16 per cent, to 1,388.17. The Nasdaq Composite Index climbed 5.07 points, or 0.21 per cent, to 2,408.04.
The dollar dropped against the euro to 62.85 euro cents from 63.22 euro cents on Friday, and also against the Japanese currency to 103.26 yen from 103.67 yen.
Gold rose 2.40 dollars to 917.60 dollars per fine ounce.